499A.3 Members.
A cooperative shall have only one class of members. The designation of that class and the rights of the members of the class shall be set forth in the articles of incorporation or the bylaws. The cooperative must issue membership certificates evidencing the ownership interest of each member of the cooperative.
[C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §499A.3]
91 Acts, ch 30, §2